---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-223190"
form_type: "8-K"
ticker: "MSDL"
cik: "0001782524"
company_name: "Morgan Stanley Direct Lending Fund"
filed_at: "2025-09-29T23:59:59+00:00"
generated_at: "2026-05-17T05:25:41.018917+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# MSDL amends BNP facility: margin cut 30 bps during reinvestment period

## Summary
- Sixth Amendment to $XX BNP Paribas revolver reduces applicable margin during reinvestment from 2.25% to 1.95%.
- After reinvestment period, margin reduced from 2.75% to 2.45%.
- Borrower DLF Financing SPV LLC; Morgan Stanley Direct Lending Fund as equityholder and servicer.
- Amendment effective September 24, 2025; no change to facility size or maturity disclosed.

## SEC filing metadata
- accession: 0001193125-25-223190
- form_type: 8-K
- ticker: MSDL
- cik: 0001782524
- company_name: Morgan Stanley Direct Lending Fund
- filed_at: 2025-09-29T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782524/000119312525223190/0001193125-25-223190-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782524/000119312525223190/d935174d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-223190
- JSON: https://secwatch.observer/filing/0001193125-25-223190.json
- Plain text: https://secwatch.observer/filing/0001193125-25-223190.txt

## Key facts
- Debt Financings
  Morgan Stanley Direct Lending Fund amended revolving credit with BNP Paribas at a reduction in the applicable margin during the reinvestment period for each app.
  - Instrument: revolving credit
  - Counterparty: BNP Paribas
  - Rate: a reduction in the applicable margin during the reinvestment period for each app
  - Event: amendment
  source text: The Sixth Amendment amended certain terms of the BNP Funding Facility to provide for, among other things, (i) a reduction in the applicable margin during the reinvestment period for each applicable reference rate from 2.25% per annum to 1.95% per annum and (ii) a reduction in the applicable margin following the reinvestment period for each applicable reference rate from 2.75% per annum to 2.45% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782524/000119312525223190/0001193125-25-223190-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.